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Petronet executes revised commercial understanding for purchase of LNG from Mobil Australia
16 Dec 11:41

Petronet LNG has executed the relevant agreements to record the revised commercial understanding on the agreement for purchase of 1.44 MTPA of LNG from Mobil Australia Resources Company (LNG Supplier), an affiliate of ExxonMobil Company from Gorgon project.Binding agreements have been executed which have effectively reduced the level of oil indexation under the agreement to reflect proximity to the prevailing oil prices and the agreement has been converted from an FOB to a Delivered basis.The LNG vessel, Prachi, on long term time charter with PLL has now been novated to an affiliate of the LNG Supplier to give effect to this revised understanding. Consequently, Petronet has made similar adjustments to its existing Gas Sale and Purchase Agreements with its intermediate off-takers GAIL, IOCL and BPCL.Besides, the company has also agreed to purchase an additional quantity of 1.20 MMTPA of LNG from an affiliate of LNG Supplier for the Indian markets for a period of 15 years with targeted commencement of supply at a later date. These volumes have been committed for onward sales to GAIL (India), Indian Oil Corporation and Bharat Petroleum Corporation.Petronet LNG is engaged in sale of re-gasified liquefied natural gas (RLNG). The company is engaged in the import and re-gasification of liquefied natural gas (LNG). The company operates through the segment of natural gas business.

Aarey Drugs gets nod to raise funds
16 Dec 11:30

Aarey Drugs & Pharmaceuticals has received an approval for raising of funds by way of issuance of equity shares of the company, at such terms and conditions as the Board may deem fit, by way of Qualified Institutions Placement (QIP) for an aggregate amount not exceeding Rs 30 crore and/ or warrants convertible in to equity shares of Rs 10 each, aggregating up to Rs 10 crore on Preferential Basis to Promoters/Non Promoter Group. The Board of Directors of the company at its meeting held on December 15, 2017, approved the same. Aarey Drugs & Pharmaceuticals is engaged in the manufacturing of drugs and intermediates such as metronidazole, metronidazole benzoate, methyl, and nitro imidazole. The company is based in Thane, India.

Relicab Cable planning to avail bill discounting facilities of Rs 60 lakh
16 Dec 11:22

Relicab Cable Manufacturing is planning to avail Purchase Bill Discounting facilities to the tune of Rs 60 lakh from Hero Fin Corp which shall be within the overall borrowing limits approved by members of the company. The meeting of the Board of Directors of the company will be held on December 22, 2017, to approve the same. Relicab Cable Manufacturing is an India-based company, which is engaged in the business of manufacturing and marketing of polyvinyl chloride (PVC) compounds, and wires and cables.

Marathon Nextgen to acquire business undertaking of `Marathon Futurex IT Park`
16 Dec 11:14

Marathon Nextgen Realty has received an approval for entering into an agreement to acquire, with effect from January 1, 2018 on a ‘Slump Acquisition basis’ the business undertaking of ‘Marathon Futurex IT Park’ from Marathon Realty. The Board of Directors of the company at their meeting held on December 15, 2017, has given an approval for the same. Marathon Nextgen Realty focuses on residential and commercial segments. The company’s JV projects include Marathon Monte Carlo, Mulund, which is a residential suit; Marathon Monte Vista, Mulund, which is a 33 story residential tower, and Marathon Monte Plaza, Mulund, which includes retail and offices.

Tinna Rubber gets NCLT’s nod for composite scheme of arrangement
16 Dec 11:05

Tinna Rubber and Infrastructure has received National Company Law Tribunal’s (NCLT) approval for the Composite Scheme of Arrangement between the company and Tinna Trade and their respective shareholders and creditors, on December 15, 2017.Tinna Rubber and Infrastructure is a market leader in the field of bituminous products, the company has captured substantial share due to the high quality, reliability and customer satisfaction. The company also has interest in winery, agri business and ware housing.

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